Enterprise Risk Management
Questions on Enterprise Risk Management
1. This is a relatively brief case study; yet the problems faced are quite complex. In your workshop, how did you handle uncertainty in the information you have been given and how does this translate into real-world workshops where not all the answers can necessarily be given at the table?
2. What were some of the risk sources that emerged repeatedly in evaluating the risks? How is this helpful?
3. How would this risk assessment aid in the decision on whether or not to proceed with the new HR strategy?
Atleast 300 words for each question and reference for each question. APA format.
Total 900 words
Please use Chapter 27: Nerds Galore Case and provide response for the questions
Answer preview
Uncertainty, especially when dealing with information, is a common feature of the business world. It can negatively affect an organization’s profitability. Uncertainty can fuel low customer satisfaction, which leads to lower revenues for a company (Quail, 2015). Handling such uncertainty is not easy, but I managed to find ways to overcome them whenever they popped up. One of the means of handling uncertainty involves conducting extensive research. When faced with doubt, the best way forward is to seek additional information regarding the subject that brings about uncertainty.
Consultation is another way of dealing with uncertainty. Most organizations comprise of new and experienced employees that have worked for the company for an extensive period. By regularly interacting with such employees, I was able to seek clarifications regarding any uncertainty I encounter. Sometimes it is better to be upfront when facing uncertainty (Quail, 2015). Whenever uncertainty pops up in my workshop, I prefer to let my audience know that I might not have the information they seek if I cannot successfully overcome it. Doing this allows me to avoid handing out false information to those listening to me.(982words)
